{
    "type": "ETF",
    "ucits": true,
    "fund_name": "UBS (Lux) Fund Solutions - J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (hedged to CHF) A-acc",
    "investment_objective": "Passive management aiming to replicate the J.P. Morgan USD EM Diversified 3% capped 1-5 Year Bond Index (Total Return) using a stratified sampling approach and portfolio optimisation technique.",
    "primary_asset_class": "Bond",
    "geographic_focus": "Emerging Markets (65 countries, including sovereigns, quasi-sovereigns, and corporate issuers from EMBI and CEMBI indices)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant bond ETF investing predominantly in emerging market sovereign and corporate bonds with a 1-5 year maturity profile. The replication method is physical stratified sampling with portfolio optimisation, investing directly in a representative sample of the underlying index components. The fund may use derivatives only for hedging currency risk (currency forwards) and potentially for efficient portfolio management, but not as an inherent part of the investment strategy. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty risk exposure related to derivatives. The fund does not employ leverage, inverse or amplified exposure. The risk profile is moderate (risk category 4 in KIID, but only 2 in PRIIPs KID, reflecting low to moderate volatility typical of short duration emerging market bonds). The fund does not have capital protection or structured features. Costs are straightforward with a TER of 0.38%, no performance fees, and no securities lending. The underlying assets are liquid bonds, with no complex structured products or contingent convertible bonds. The PRIIPs KID confirms the fund is suitable for retail investors with basic financial understanding and does not carry a comprehension warning. The monthly factsheet confirms physical replication and no use of swaps for synthetic exposure. Overall, the fund exhibits none of the MiFID II complexity triggers such as synthetic replication, leverage, complex underlying assets, or capital protection mechanisms. Therefore, it is classified as non-complex."
}